Weiss Ratings Reaffirms Hold (C+) Rating for Truist Financial (NYSE:TFC)

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for Truist Financial (NYSE:TFC), indicating that the stock is not currently a strong buy but merits monitoring.
• Truist Financial's stock price opened at $44.17 with a current average target price of $50.59 from analysts, reflecting varied opinions on the stock's potential performance.
• In its latest earnings report, Truist Financial reported earnings per share of $1.04, surpassing analyst expectations of $0.99, and showed a modest revenue increase compared to the previous year.

Truist Financial (NYSE:TFC - Get Free Report)'s stock had its "hold (c+)" rating reiterated by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. UBS Group set a $55.00 price objective on Truist Financial in a research note on Tuesday. Morgan Stanley lifted their price objective on Truist Financial from $54.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, October 20th. Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday. Finally, Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.59.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $44.17 on Friday. The business has a 50-day moving average of $45.06 and a 200 day moving average of $42.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $56.96 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.19 and a beta of 0.88. Truist Financial has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Truist Financial will post 4 earnings per share for the current year.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MGO One Seven LLC lifted its stake in Truist Financial by 15.0% in the third quarter. MGO One Seven LLC now owns 33,180 shares of the insurance provider's stock valued at $1,517,000 after buying an additional 4,331 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Truist Financial by 64.6% in the third quarter. Bayforest Capital Ltd now owns 7,571 shares of the insurance provider's stock valued at $346,000 after buying an additional 2,972 shares during the last quarter. Forum Financial Management LP lifted its stake in Truist Financial by 18.5% in the third quarter. Forum Financial Management LP now owns 23,758 shares of the insurance provider's stock valued at $1,086,000 after buying an additional 3,703 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Truist Financial in the third quarter valued at approximately $240,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Truist Financial by 5.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 211,197 shares of the insurance provider's stock valued at $9,656,000 after buying an additional 10,812 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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